Preventing a Tax Amendment: Avoid These Common Tax Return Mistakes

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We’ve heard some stories from taxpayers who’ve tried to file tax forms by hand. A small mistake can draw the watchful eye of the IRS, who could ask you to file a tax amendment. That’s why we recommend that you file taxes online.

Many taxpayers are unaware they have an error on their tax return until the IRS sends them a notice. The most common mistakes on tax returns include:

Numbers input incorrectly – If your income was $35,000 and you added an extra zero—as nice as it is on paper, the IRS has a way of understanding that as a mistake. Take a look at your social security number and make sure that it has been entered correctly.

Miscalculations – Numbers or calculations being input incorrectly, most commonly the EITC credit

Misspelled Names or Incorrect Names – Be sure to use the name and spelling that are used on previous years’ returns. If you changed your name due to marriage, or will be included on someone else’s return for the first time, be sure to have documentation stored with your tax-related documents.

Credit or Deduction Claim Errors – When you claim a credit or deduction, taxpayers must be aware of what other credits can be and cannot be claimed with it.

Missing Information – Leaving off information because you either forgot about the form, or weren’t aware it needed to be claimed is other popular mistake.

Incorrect Mailing Address – It may be a surprise, but sometimes missing returns are due to the address being incorrectly labelled on your envelop.

In the unfortunate chance you made a mistake on your return, don’t worry, correcting tax return errors usually are an easy process. We suggest consulting with a tax professional who can walk you through correcting the mistake and filing a Form 1040x, the IRS’ Amended Tax Return form.

We understand that filing your taxes can be stressful and we’re here to help make the process easier. We have you covered no matter your tax situation, and provide wonderful resources on The Daily Deduction all year long. If you enjoyed this article or found it helpful, Like us on Facebook and follow us on Twitter to get more articles like this posted directly to your timeline or newsfeed! You can also share this stress-relieving info with your social network or friends by clicking on the share buttons above or below.

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